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Vladivostok
Vladivostok
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RU
20 October
Sunday

Russia

Russia to have energy dominance by Novatek`s giant tinker

Company plans to transform Russia into one of the biggest exporters of the fuel

Photo: Novatek

/NOVOSTIVL/ Almost 1,500 miles from Moscow, the tiny port of Sabetta nestles in a desolate Russian Arctic peninsula. A former outpost for Soviet geologists, it’s now the site of Russia’s most ambitious liquefied natural gas project, operated by a company that only entered the market just over a year ago. This article appeared in the Bloomberg.

Several times a week, a giant tanker leaves this remote place carrying the super-chilled fuel to buyers in Europe and Asia. It’s not the only LNG plant beyond the Arctic Circle, but it’s by far the largest.

Novatek PJSC, the main shareholder of the Yamal LNG plant, says plans for further projects will transform Russia into one of the biggest exporters of the fuel within a decade. Already the world’s top exporter of pipeline gas and second-biggest shipper of crude oil, exports from Sabetta are giving President Vladimir Putin’s Russia another conduit into the world economy for the country’s unrivaled energy resources.

"Russia can be in the top four main LNG exporters," Novatek’s Chief Financial Officer Mark Gyetvay said in an interview in London.

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